Movement Alert|Seagate Technology Declines 3.56% Overnight, Storage Sector Reversal Extends Adjustment Pressure

Market Focus06-26 10:31

On June 26, Seagate Technology declined 3.56% overnight, trading at $1000.83/share, with turnover of $4.5415 million.

On the news front, the storage sector failed to sustain gains following Micron Technology's earnings beat that briefly lifted the sector on June 25, with stocks experiencing a sharp intraday reversal. Despite Micron's third fiscal quarter EPS surging over 12-fold, revenue exceeding expectations by 16%, and fourth-quarter guidance reaching new highs, mounting concerns over AI sector valuation repricing and investor skepticism toward major cloud providers' debt-funded AI investments triggered broad profit-taking across the storage space.

The sector came under widespread pressure, with SanDisk falling 5.78%, Western Digital declining 4.06%, and Super Micro Computer down 3.09%. Seagate continued its pullback under sector-wide selling pressure, reversing a portion of the prior session's 11% intraday surge driven by the initial Micron earnings enthusiasm.

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